Ebix, Inc.

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Overview

The Policy Processor (TPP) – New Business & Underwriting

It takes insurance companies weeks, sometimes months, to underwrite a policy.Much of the information is collected through traditional faxes and mail.Information is entered into multiple systems, multiple times, making the process redundant and exposed to errors.An underwriter often has to rely on third party data sources like; MIB, MVR, APS/Paramed, and Inspection Companies to make decisions.The Policy Processor (TPP) address these challenges by providing a framework that can cohesively tighten the process by collecting data through web-based interfaces, intelligently routing workflow based on business rules, and connecting internal and external systems.

How it works

TPP is the industry’s most advanced and comprehensive new business processing and underwriting system for life insurance.TPP accommodates all life insurance products, across all distribution channels.The application is integrated with a heterogeneous mix of in-house and third party systems.The information is collected both from the end customer and agent through web-based e-forms, as well as from external data sources for background checks, etc.TPP provides a means of straight though processing of underwriting information for medically underwritten as well as jet issue cases.